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Anoual

Extra information:

In July 2017 Sound Energy entered into a new Petroleum Agreement for what was known as the Meridja reconnaissance area. The acreage covered by this new Petroleum Agreement, spans some 8,863 square kilometres and has been named Anoual. Upon completion, the Company will hold an operated 75% position, of which 27.5% is shared with Schlumberger resulting in a net 47.5% position for the Company. Onhym will hold the remaining 25% interest in the licence area. Like Tendrara, Anoual has a pericratonic position and is located between three geologic domains: the inverted High Atlas, the Folded Hercynian Basement and the Non Deformed Saraha Platform.

In Anoual, two main targets have been identified: the Paleozoic formations, which belong to the Hercynian Saharan Platform, and the Triassic Sandstones (TAGI) which belong to the Triassic province.

License Details:

Area 8,873.33 km2
Status Reconnaissance licence moving to present
Effective Date to be defined
Term 8 years
Resource potential TBA

Interests:

Interest Sound will have a 75% participating interest (of which 27.5% is shared with Schlumberger i.e. 47.5% net position)  (ONHYM 25% carried) on finalisation of the OGIF transaction.

Permit Area

Sound secured an option to acquire a 55% interest in the Anoual permit, located next to its Tendrara license.

The Anoual reconnaissance permit is currently held 75% by Oil & Gas Investment Fund S.A.S (“OGIF”) and 25% by Office National des Hydrocarbures et des Mines (“ONHYM”). On completion of the recent new Petroleum Agreement the Company will hold an operated 75% position. (47.5% net) 

Both Anoual and Tendrara have a pericratonic position and are located between three geologic domains: the inverted High Atlas, the Folded Hercynian Basement and the Non Deformed Saraha Platform.

In Anoual, two main targets have been identified: the Paleozoic formations, which belong to the Hercynian Saharan Platform, and the Triassic Sandstones (TAGI) which belong to the Triassic province.

Currently, 15 leads have been identified with reserves potentially similar in scale to those in Tendrara.